Gold – the final bubble, page-4239

I think the 1200 point drop was the Shemitah prelude.

Rickards re his 10% gold holdings in portfolio is really naughty.  For years, like Schiff, he has been so, so, so bullish on gold.  Then I heard him a year ago when confronted by an interviewer about massive gold losses by his followers, he said 'I never said to invest more than 5 or 10% in gold'.  He lost a lot of credibility from me on that day.

I just read an interesting article re the 3.7% GDP q2 growth.  Article says ZIRP is working well, it has revived the economy, and no inflation, so ZIRP should simply stay.  Heck, can you argue with that.  Can we have a world where ZIRP allows the asset rich / asset borrowers to become super rich and the non asset joe simply goes backward in real terms every year.  Seems to work.  Everybody seems to accept it.  Why change.